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answer - Exercise 3-8(25 minutes Dec 31 Accounts Receivable...

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Exercise 3-8 (25 minutes) Dec. 31 Accounts Receivable ................................................................................... 1,980 Fees Earned ...................................................................................... 1,980 To record earned but unbilled fees (30% x $6,600). 31 Unearned Fees ................................................................................................ 4,620 Fees Earned ...................................................................................... 4,620 To record earned fees collected in advance (70% x $6,600). 31 Depreciation Expense—Computers ............................................................. 1,650 Accumulated Depreciation-Computers ......................................... 1,650 To record depreciation on computers. 31 Depreciation Expense—Office Furniture ..................................................... 1,925 Accumulated Depreciation—Office Furniture .............................. 1,925 To record depreciation on office furniture. 31 Salaries Expense .......................................................................................... 2,695 Salaries Payable ............................................................................... 2,695 To record accrued salaries. 31 Insurance Expense .............................................................................................. 1,430 Prepaid Insurance ............................................................................ 1,430 To record expired prepaid insurance. 31 Rent Expense ....................................................................................................... 700 Rent Payable ........................................................................................
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